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Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to provide an exploration update on the Guyer Well Target Area.
Highlights
- High-grade rock chip assays have been returned from the Guyer target area with assays including:
136g/t Au 126g/t Au 67.4g/t Au 18.3g/t Au 15.5g/t Au. - Gold bearing rock chips support existing targeting work.
- Ongoing fieldwork has discovered over 700 gold nuggets along the Guyer Trend to date.
- More than 100 gold nuggets have been recovered during the last 4 weeks.
- Results from Guyer South AC drilling have identified bedrock gold anomalism beneath transported cover.
- Exploration work has located historic workings associated with the 11km long granite contact and the 7km long banded iron formation (BIF) Trend at Guyer.
- Mineralisation associated with granite contacts or BIF trends occur at major regional mines such as King of the Hills, Mt Morgans, Granny Smith and Sunrise Dam.
- Elevated tellurium (Te) in Guyer rock chip results is similar to nearby gold deposits known to have tellurides, like the Sunrise Dam, Wallaby and Jupiter gold deposits.
- The Guyer North target is presently being prepared for the commencement of exploration drilling.
Technical Director David Nixon commented:
“New high-grade gold results have been discovered within the Guyer target area, providing strong evidence of deeper buried mineralisation being revealed at surface by the Company’s ongoing exploration work.
The high-grade rock chip results from in-situ outcrop are exciting because they confirm and support the existing gold UFF+ soil anomalies.
The Guyer South AC drilling results also demonstrate that gold anomalism is concealed beneath deep transported cover.
The Guyer target area continues to deliver in-situ gold bearing rock chips and significant numbers of gold nuggets over key areas, and these results continue to strengthen the previous results from broad spaced Air Core holes, specifically at Guyer North, where a number of significant targets are being prepared for future exploration drilling”.
Figure 1 Gold rock chip assays across the Guyer Well target area and the Guyer South AC results.
Ongoing rock chip sampling across the Guyer target area has delivered several significant gold results, that include several high-grade gold results at Granite Contact South, Guyer North and East Well. The gold anomalism is supported by multi-element geochemistry, which reinforces the anomalies.
The majority of gold anomalous samples are hosted by quartz veining in granite, andesite or sediments, sometimes displaying evidence of sulphides or boxworks after sulphides.
Peak gold values from rock chip sampling include the following results:
Guyer North
Rock chip samples from the Guyer North prospect returned significant gold results that support the existing gold anomalies. Gold mineralisation was associated with quartz veining in andesite on the eastern side of the ridge at Guyer North. A number of these samples had anomalously high silver values when compared to gold. This geochemical relationship could be indicative of an earlier epizonal style of mineralisation.
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This article includes content from Icenic Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High-Grade Gold Confirmed at Bronzewing South
- Partial results received from the diamond tail of drill-hole BWSRC081 with the visible gold zone returning 15.5g/t Au over 0.48m from 416.5m. This high- grade zone is reported within a broader intercept of:
- 8.95m at 1.32g/t Au from 414m, including:
- 0.48m at 15.5g/t Au from 416.5m; and
- 0.55m at 3.52g/t Au from 422.4m.
- 8.95m at 1.32g/t Au from 414m, including:
- Follow-up drilling along strike from these intercepts is scheduled to commence in the coming days to define the extent of the south-trending zone of gold mineralisation with a diamond tail of drill-hole BWSRCD086.
- Drill results indicate the inadequacy of historical air-core drill testing with a significant search space now open on the boundary with the historical Bronzewing Mining Lease.
- Diamond drilling at the Central Target, located ~1.7km to the south of the Eastern Target and within the same structural corridor, has encountered zones of intense locally massive quartz veining associated with brecciation below historical Hammer gold drilling anomalies of:
- 20m at 1.5g/t Au from 120m in drill-hole BWSRC0037, including:
- 8m at 2.4g/t Au from 120m; and
- 4m at 3.9g/t Au from 120m.1
- 20m at 1.5g/t Au from 120m in drill-hole BWSRC0037, including:
- Assay results from the remaining program will be progressively released in the coming weeks.
Figure 1. Photo of massive quartz carbonate veining intersected in drill-hole BWSRCD082 diamond tail at Hammer’s Central Target Zone (213m to 221.5m).
Hammer’s Managing Director, Daniel Thomas, said:
“The confirmation of high-grade gold mineralisation at Bronzewing South is a significant step in our search for an economically viable gold target at our Yandal Gold Project. High-grade mineralisation can be traced with multiple intercepts to the north of our project area, with the mineralised structure interpreted to extend for hundreds of metres.
“We will now look to test this structure approximately 100m further south on our project area. We are very much looking forward to follow-up drilling at the Eastern Target, as we enter a zone without any previous drilling coverage.
“The team is encouraged by the observations in recent drilling at the Central Target and the potential for this corridor to be connected to the Eastern Target drilling some 1.7km to the north. This corridor is largely untested below the ineffectual air-core drilling and, with a prominent shear zone interpreted to connect these targets, it is of high interest to the team in our search for a significant gold discovery.”
Figure 2. Plan view of the Bronzewing South tenement EPM36/854, showing Bronzewing orebodies on Northern Star Resources mining lease, historical Hammer RC drilling intercepts and the structural corridor of interest containing Hammer’s Central and Eastern Target Zones (refer to ASX announcement 9 November 2020).
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This article includes content from Hammer Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
